Official figures have shown that the number of businesses based in Scotland is on the increase, with growth recorded at 10 per cent in the last 12 months.
The figures, put out last week by Holyrood, show that the total number of private sector companies within the country is now put at over 340,000.
With a number of high-profile businesses going to the wall in recent years, it will be seen as excellent news for the Scottish, and national, economies.
As of March 2012, there were a total 341,360 private enterprises in Scotland. This is a rise of 25,620 on the figures taken in March 2011.
The large increase is largely due to smaller businesses, or micro-businesses, increasing significantly in numbers. Employing less than 49 members of staff, many of these have been set up by those made redundant in the economic downturn.
Encouraged by the news, Enterprise Minister Fergus Ewing said:
“The rise has been driven by start-up enterprises, a sign that Scots are confident enough to go out and make the most of the opportunities available.”
With traditional commercial finance in Scotland being low in volumes too, many start-ups are seeking alternative funding.
Invoice finance is proving popular for example, with factoring companies in Glasgow, Edinburgh and Aberdeen seeing rising levels in business.
There was more good news in the figures too. The number of registered enterprises in Scotland was also on the rise, by 3.4 per cent. Following successive falls in the previous two years, this will also prove incredibly welcome to the business world.